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Submit questions and comments via the Questions panel at any time. Panelists and speakers will answer questions at the end of their session. Presidenti al Election Results Senate Election Results New Senators

Mark Kelly (D-AZ) Cynthia Lummis (R-WY) Ben Ray Lujan (D-NM) John Hickenlooper (D- CO) TBD • California Appointment (Kamala Harris Vacancy) • Two Georgia Runoffs Tommy Tuberville (R-AL) Roger Marshall (R-KS) Bill Hagerty (R-TN) House Election Results Remaining House Races (incumbents listed)

Democrats Favored Republicans Favored Tossup • NJ07: Tom Malkinski (D) vs Tom Keane Jr. • UT04: Ben McAdams (D) vs (R) • CA21: TJ Cox (D) vs (R) (R) • NY02: Andrew Garbarino (R) vs Jackie Gordon • IA02: Rita Hart (D) vs Mariannette • NY03: Tom Suozzi (D) vs George Santos (D) Miller-Meeks (R) (R) • CA25: Christy Smith (D) vs • NY22: (R) vs Anthony LIKELY Republican (R) Brindisi (D) • NY01: Nancy Goroff (D) vs (R)

LIKELY Democrat: • NY18: (D) vs Chele Farley (R) President-elect Biden’s Economic Plan

• Increase taxes on corporations and income for individuals: +$3.375 trillion (2021-2030); • Increase government spending by $5.37 trillion • $640 billion on housing • $1.6 trillion on infrastructure President-elect Biden’s Immediate Priorities

• Response to COVID pandemic • Economic Recovery • Racial Equality • Climate Change Biden Proposals Impacting CDFIs.

• Doubling direct funding (annual appropriations). • Neighborhood Jobs and Investment Act provisions, including: • $13 billion from previously appropriated funds for long-term direct capital investments in CDFIs and MDIs with a priority for serving minority communities; • $1 billion for the CDFI Fund Programs (not less than $25 million is directed to benefit Native communities); and • Authorizes $2 billion in emergency appropriations for the CDFI Fund targeting low- income and minority communities and a set aside of 40 percent of CDFI Fund appropriations for minority lending institutions. • Strengthening CRA. • Making CDFIs a top vehicle for his Small Business Opportunity Fund to create or expand small business lending programs that disproportionately benefit small businesses owned by Black, Latino, AAPI, and Native American people and those serving low income communities. Treasury Transition Team: Name Most Recent Employment Cabinet Potentials Don Graves, Team Lead KeyBank Mehrsa Baradaran University of California, Irvine School of Law Michael Barr University of Michigan, Gerald R. Ford School of Public Policy Lily Batchelder University, School of Law John Bentivoglio Skadden, Arps, Slate, Meagher & Flom LLP Chris Brummer Georgetown University Liyan David Chang Devoted Health Heidi Crebo-Rediker International Capital Strategies, LLC Will Fields Sidewalk Labs Suzanna Fritzberg Birmingham Strong Andy Green Center for American Progress David Hinson Ategra Capital Management Nicole Isaac LinkedIn Corporation Simon Johnson Massachusetts Institute of Technology Helen Kanovsky Mortgage Bankers Association Marisa Lago New York City, Department of City Planning Nancy Lee Center for Global Development Sarah Miller American Economic Liberties Project Sophie Raseman Brightside Benefit, Inc. Rosie Rios Red River Associates Buzz Roberts National Association of Affordable Housing Lenders Elizabeth Rosenberg Center for a New American Security Javier Saade Impact Master Holdings Damon Silvers AFL-CIO Betsey Stevenson University of Michigan Jay Williams Hartford Foundation for Public Giving Charles Yi Arnold & Porter Kaye Scholer, LLP Cabinet: Treasury

• Lael Brainard • Sarah Bloom Raskin • Janet Yellen House Committee Leadership Changes

• Appropriations Committee: Nita Lowey (D-NY) is retiring, possible successors Rosa DeLauro (D-CT); (D-OH); Debbie Wasserman-Schultz ( D-FL) • House Small Business Committee: Ranking Member Rep. (R-OH-01) is term limited. The next most senior Republican is Del. Amata Radewagen (R-AS-AL). Reps. (R-OH- 12) or (R-OK-01) may also vie for the position. • House Agriculture Committee: Chairman Colin Peterson (D-MN) was defeated. Likely successors: Rep. David Scott (D-GA), Rep. (D-CA) Committee Leadership Changes in Senate

• Banking, Housing, & Urban Affairs Committee: Pat Toomey (R-PA) succeeds Mike Crapo (R-ID). • Finance Committee: Mike Crapo succeeds Chuck Grassley (R-IA). • Committee on Small Business & Entrepreneurship: Marco Rubio (R-FL) may keep the Intelligence Committee gavel, giving up his chairmanship of the committee. Rand Paul (R-KY) and Tim Scott (R-SC) are next in line. THE LAME DUCK

• Continuing Resolution expires on December 11th. • COVID-19 ticks up, but the “art of the deal” remains elusive for relief legislation. LAME DUCK: What’s the latest on COVID-19 stimulus?

Senate Proposal House Proposal • McConnell Skinny Coronavirus Bill-- • HEROES Act, revision--$2.2 trillion • $1 billion for the CDFI Fund Programs (not $300 billion less than $25 million is directed to benefit • $9 billion rescinded from CARES Act Debt Native communities) Relief, including principal and interest • Includes Warner/Meeks Neighborhood Jobs payments (P&I) for 7(a) (including and Investment Act provisions, including: Community Advantage), 504, and Middle ground? microloan program loans made before • $13 billion from previously appropriated funds for long-term direct capital September 27. investments in CDFIs and MDIs with a priority for serving minority • Updates Paycheck Protection Program communities; (PPP), rolls $146 billion it rescinds from the remaining CARES PPP funds into a • Authorizes $2 billion in emergency appropriations for the CDFI Fund $258 billion expansion and allows small targeting low-income and minority businesses experiencing significant loss a communities and a set aside of 40 percent of CDFI Fund appropriations for second draw of funding. minority lending institutions. • Makes simplifications to the application • PPP, including set aside of 25% or up to $15 and streamlines the forgiveness process. billion for community lenders • P&I payment extensions for SBA loans LAME DUCK: FY 21 CDFI Fund Appropriations

FY 19 FY 20 FY21 FY21 FY21 FY21 Treasury Programs $ in millions Final Final Budget House Senate Final CDFI Fund $250 262 0 273.5 262 CDFI FA/TA Grant Programs 160 165.5 0 171 165.5 Native Initiative 16 16 0 16 16 Healthy Food Financing Initiative 22 22 0 22 22 Bank Enterprise Award 25 25 0 25 25 Capital Magnet Fund** Admin and Research 27 28.5 14 29.5 28.5 Disabilities Fund (set aside from FA/TA) 3 4 0 6 4 Small Dollar Loan Fund 5 0 10 5 Economic Mobility Corps 2 0 0 2 Bond Program 500 500 300 500 300 Lame Duck Targets for Advocacy in the Senate

Sen. Richard Sen. John Sen. Marco Sen. Joni Ernst Sen. Bill Cassidy Sen. Susan Shelby (R-AL) Boozman (R-AR) Rubio (R-FL) (R-IA) (R-LA) Collins (R-ME)

Sen. Cindy Sen. Roger Sen. Thom Tillis Sen. Tim Scott Sen. Mike Sen. Shelley Hyde-Smith Wicker (R-MS) (R-NC) (R-SC) Rounds (R-SD) Moore Capito (R-MS) (R-WV) Questions?